Behavioral rehabilitation includes counseling, psychotherapy, medication management, life skills training and more for individuals suffering from mental health disorders such as depression, anxiety, bipolar disorder, addiction and childhood behavioral issues. The rise in cases of mental health issues such as depression due to pandemic, loneliness and substance abuse has increased the need for behavioral treatment programs. Behavioral rehabilitation helps people overcome challenges, develop healthy coping strategies and improve overall emotional well-being.
The global Behavioral Rehabilitation Market is estimated to be valued at US$ 248530.73 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
There is a huge opportunity to treat the rising mental health issues through behavioral rehabilitation programs. The Covid-19 pandemic has significantly impacted people's mental health as lockdowns increased loneliness and social isolation. As per the National Institute of Mental Health, the number of adults in the U.S. experiencing anxiety disorders increased from 31.1% in 2019 to 36.4% in 2021. The increasing incidence of mental illness offers a major market opportunity for behavioral rehabilitation centers and therapy services to help people recover and lead a normal life through proper treatment and counseling.
Porter's Analysis
Threat of new entrants: Low due to high capital requirements and established brands in the market.
Bargaining power of buyers: High given many options available and non-differentiated products available.
Bargaining power of suppliers: Moderate as suppliers have to depend on key buyers for largescale business.
Threat of new substitutes: Moderate as other rehabiliation methods can be adopted but behavioral rehabilitation has its own benefits.
Competitive rivalry: Intense given many regional and global players operating.
SWOT Analysis
Strength: Effective method for various mental conditions. Experienced therapists and customized treatment plans.
Weakness: High cost of therapy. Lack of awareness in some regions.
Opportunity: Growing geriatric population needing such services. Untapped developing markets.
Threats: Social stigma prevents some from seeking help. Alternative cheaper treatments.
Key Takeaways
The Global Behavioral Rehabilitation Market Size is expected to witness high growth on account of rising cases of mental illnesses.
North America dominates the market currently owing to the increasing adoption of behavioral rehabilitation therapies in the region. The growth can be attributed to supportive reimbursement policies and awareness about mental health. Europe is also a major market for behavioral rehabilitation facilitated by growing acceptance and emphasis on early diagnosis and intervention. Asia Pacific is poised to offer lucrative opportunities for players over the coming years led by expanding healthcare infrastructure and focus on preventive healthcare in several APAC countries.
Key players operating in the behavioral rehabilitation market are Gap Inc., Seraphine, Isabella Oliver., H and M Hennes and Mauritz AB., Brunelli and co. S. R. L, Mothercare, Boob Design, Pink Blush Maternity, Organic & More, and Adidas America Inc. The presence of several local and regional providers has made the competitive landscape fragmented with focus on new technologies, service quality and customization.
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